Cryptocurrency prices analysis and forecast – 8 December 2018

BTC / USD

BTC / USD is being traded at $ 3,315 and continues to decline. Over the last trading day, sales were observed in almost all liquid instruments. Quotes of most coins once again updated the lows. Now the capitalization rate is at the level of $ 108B, which is the minimum value since August 2017. Bitcoin almost without resistance broke through the level of $ 3,600. The minimum from September 2017 was again updated. Now the closest support is around $ 3,000. At the weekend, the next correctional accumulation will probably be formed. There are no prerequisites for a reversal of the market trend. Therefore, we are likely to see the testing the level of $ 3,000. This is a historically significant level. The price is very likely to meet with psychological support.

As part of the forecast for December 8, we can expect a corrective sideways or upward movement. Signal area is located at $ 3,690 - $ 3,575. This is a dynamic zone of the "balance" of the asset price for the next day. Departing from it higher or lower, the price will tend to return to this value. As now the price is lower, it is likely that it will re-test the zone, and then continue to decline to the $ 3,250 - $ 3,000 area.

An alternative would be the development of an upward correction. For a beginning, the price will need to break through $ 4,200 and go to the first goal of $ 4,500. After fixing at these levels, we can expect growth to the $ 5,500- $ 5,000 area.

ETH / USD

ETH / USD is being traded at $ 95.76 and is adjusted after another wave of decline. Over the last trading day, the price of the coin broke through all the support level and reached the target of $ 83.70. The coin was again among the leaders of decline. The coin shows such sad statistics for over a year. Therefore, there is a very high probability of further reduction of quotations. The following targets for the fall are $ 77.76, $ 66.00 and $ 53.00.

As part of the forecast for December 8, we can expect a corrective sideways or upward movement. The signal area is located at $ 100.40 - $ 96.10. This is a dynamic zone of the "balance" of the asset price for the next day. Departing from it higher or lower, the price will tend to return to this value. As now, it is in this area, a small break up is possible before the quotes will continue to decline to the $ 83.70 - $ 77.76 zone.

An alternative would be the development of an upward correction. For a start, the price will need to break through $ 116.00 and go to the first goal of $ 130.00. After fixing at these levels, we can expect growth in the region of $ 150.00 - $ 155.00.

XRP / USD

XRP / USD is being traded at $ 0.31379 and is adjusted after another wave of decline. Over the last trading day, sales on the background of the negative dynamics of the entire market were observed here. Recently, any individuality in the nature of the movement of the coin is not noticed. Probably Ripple will be able to reveal its potential only after the general market trend changes. The nearest strong support area is at $ 0.26700 - $ 0.24700. These levels are relatively far from the current values. Therefore, under the pressure of general market sentiment on the quotes of this coin, in the near future, it will continue to follow the general dynamics.

As part of the forecast for December 8, we can expect a corrective sideways or upward movement. The signalling area is located at $ 0.33400 - $ 0.32360. This is a dynamic zone of the "balance" of the asset price for the next day. Departing from it higher or lower, the price will tend to return to this value. As now, the rate is lower, it is likely that the price will first test it, and then continue to decline to $ 0.29300 - $ 0.26650.

An alternative would be the development of an upward correction. For a beginning, the price will need to break through $ 0.38500 and go to the first goal of $ 0.43000. After fixing at these levels, we can expect growth to the region of $ 0.50000 - $ 0.45000.

XMR / USD

XMR / USD is being traded at $ 46.855 and is adjusted after another wave of decline. The coin has once again proved to be an insider of the entire market, having fallen a few hours earlier than all the others. At the moment we see a good upward correction. Probably market participants fix their positions before the weekend and upcoming holidays. Whether the last wave of the fall was the last this year, Monero will most likely respond earlier than all other assets. If the sales are over, then the market will go sideways until the end of the year. Borders for him are now more than worthy. However, there are no signals about a reversal of the bearish trend. Therefore, it is likely that the current lows are not the last.

As part of the forecast for December 8, we can expect a corrective sideways or upward movement. The signalling area is located at $ 50.900 - $ 48.900. This is a dynamic zone of the "balance" of the asset price for the next day. Departing from it higher or lower, the price will tend to return to this value. So, as now, it is lower, it is likely that the price will test it again, and then continue to decline in the region of $ 43,000 - $ 39,500.

An alternative would be the development of an upward correction. For a start, the price will need to break through $ 62,500 and go to the first goal of $ 72,000. After fixing at these levels, we can expect growth in the region of $ 86,000 - $ 78,000.